NEW
YORK, June 7, 2023 /PRNewswire/ -- CF
Acquisition Corp. VII (NASDAQ: CFFS) (the "Company") today
announced that, to mitigate the current uncertainty surrounding the
implementation of the Inflation Reduction Act of 2022, in the event
that the extension (the "Extension") of the time period the Company
has to complete an initial business combination (the "Business
Combination") is implemented, as described in the proxy statement
filed by the Company on May 19, 2023
(the "Proxy Statement"), in connection with its special meeting of
stockholders to be held on June 14,
2023 (the "Meeting"), CFAC Holdings VII, LLC (the
"Sponsor"), the sponsor of the Company, or a designee, will
indemnify the Company for any reduction in the amount in the trust
account as a result of any excise tax liabilities to the extent of
such reduction that would otherwise be paid to any public
stockholder exercising its rights with respect to any future
redemption opportunities that are provided prior to or in
connection with a Business Combination or in respect of a
liquidation of the Company.
If the Extension is implemented, the Sponsor has agreed to loan
to the Company, which will be deposited into the Company's trust
account, $0.03 per month for each
public share that is not redeemed (the "Monthly Amount") for each
calendar month that is needed by the Company to complete the
Business Combination until March 20,
2024.
About CF Acquisition Corp. VII
CF Acquisition Corp. VII is a special purpose acquisition
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
Company's efforts to identify a prospective target business is not
limited to a particular industry or geographic region, but the
Company intends to focus on industries where its management team
and founders have experience, including the financial services,
healthcare, real estate services, technology and software
industries. CF Acquisition Corp. VII is led by Chairman and Chief
Executive Officer Howard W.
Lutnick.
Participants in the Solicitation
The Company and its directors and executive officers and other
persons may be deemed to be participants in the solicitation of
proxies from the Company's stockholders in respect of the
Extension. Information regarding the Company's directors and
executive officers is available in its annual report on Form 10-K
filed with the SEC. Additional information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests are contained in the Proxy
Statement.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Additional Information
The Company has filed the Proxy Statement with the Securities
and Exchange Commission (the "SEC") in connection with the Meeting
and, beginning on May 22, 2023,
mailed the Proxy Statement and other relevant documents to its
stockholders as of the May 1, 2023
record date for the Meeting. The Company's stockholders and other
interested persons are advised to read the Proxy Statement and any
other relevant documents that have been or will be filed with the
SEC in connection with the Company's solicitation of proxies for
the Meeting because these documents will contain important
information about the Company, the Extension and related matters.
Stockholders may also obtain a free copy of the Proxy Statement, as
well as other relevant documents that have been or will be filed
with the SEC, without charge, at the SEC's website located at
www.sec.gov or by directing a request to Morrow Sodali, LLC at
(800) 662-5200 (toll free) or by email at
CFFS.info@investor.morrowsodali.com.
Forward-Looking Statements
This press release and oral statements made from time to time by
representatives of the Company may include "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other
than statements of historical fact included in this press release
are forward-looking statements. When used in this press release,
words such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar
expressions, as they relate to the Company or its management team,
identify forward-looking statements. Such forward-looking
statements are based on the beliefs of the Company's management, as
well as assumptions made by, and information currently available
to, the Company's management. Actual results could differ
materially from those contemplated by the forward-looking
statements as a result of certain factors detailed in the Company's
filings with the SEC. All subsequent written or oral
forward-looking statements attributable to the Company or persons
acting on its behalf are qualified in their entirety by this
paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company's registration statement and prospectus for the Company's
initial public offering filed with the SEC. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
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SOURCE CF Acquisition Corp. VII
